Ryder System, Inc. reported strong fourth-quarter 2024 comparable earnings per share (EPS) of $3.45, an increase from $2.95 in the prior year. GAAP diluted EPS from continuing operations was $3.11, up from $2.74 year-over-year. This marks the first quarter in the last eight with year-over-year comparable earnings growth.
Total revenue for the quarter increased 5% to $3.189 billion, with operating revenue up 7% to $2.617 billion. All business segments contributed to double-digit earnings growth, with Supply Chain Solutions (SCS) delivering record fourth-quarter earnings and Fleet Management Solutions (FMS) showing lease earnings growth that offset rental and used vehicle sales headwinds.
For the full year 2024, comparable EPS reached $12.00, and free cash flow improved significantly to $133 million, up from negative $54 million in 2023. Ryder provided a positive outlook for full-year 2025, forecasting comparable EPS between $13.00 and $14.00, and adjusted ROE between 17% and 18%, reflecting expected continued earnings growth in all segments.
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